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04.11 - 03:05
Four Steps Banks Need To Take To Prepare For Crypto, CBDC Disruption
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The world’s banks should brace themselves for the new era of decentralized finance (DeFi) by preparing the necessary technology to maintain and exchange cryptoassets and central bank digital currencies (CBDCs), according to a recent report by blockchain company Cypherium and the Boston Consulting Group (BCG).
Cypherium and the BCG say that banks should prepare for the incoming major disruption through the following four non-exhaustive steps:
The report came to the above conclusion with several challenges in mind.
The study recognizes three major central banks at the vanguard of this process, namely the People's Bank of China, Sweden's Sveriges Riksbank, and the European Central Bank (ECB) - as they are “ahead of the curve in terms of digital
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